By Annie Barrett
Updated March 26, 2010 at 10:00 AM EDT

Drac Studios is moving forward with a full-fledged film production based on a recently discovered recording of the late Orson Welles narrating a children’s Christmas novel. Christmas Tails, to be directed by Todd Tucker and narrated by Welles, will be about how Santa’s dog saves Christmas. “But on one level, this is a story about the discovery of Orson’s lost tapes,” Drac president Harvey Lowry told The Hollywood Reporter.